Daily Spot

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today”s Market Wrap.

Eurodollar Dec Contract (EC, ETF: (FXE))
An overnight plunge fulfilled the longstanding 1.2560-1.2585 pullback target. Closing above 1.2711 signals sellers were absorbed. Regardless, a second consecutive lower close Friday would instead signal the drop is extending into next week.

Gold Dec Contract (GC, ETF: (GLD))
Extending down sharply found early support at 1202.00, but its bounce resolved down to fresh lows at 1195.50. The 1167.50 target is in-play so long as 1206.50 isn”t recovered.

Silver Dec Contract (SI, ETF: (SLV))
An overnight plunge probed new lows testeing 16.30-16.50. A corrective bounce has room up to 16.75 while maintaining the decline”s potential to 16.18 and 15.65.

30-year Treasury Dec Contract (US, ETF: (TLT))
Wednesday afternoon”s bounce from fresh lows were extended more so overnight. An intraday dip to 141-18 as support — with room down to 141-12 — needed to hold to further prevent another dip from gaining traction.

Crude Oil Dec Contract (CL, ETF: (USO))
Wednesday”s un-extended gap up was suspicious, but so was Thursday”s dip, which could still be more punitive to the premature rally effort. The potential for fresh lows under 79.75 remains alive so long as 82.80 and 83.33 aren”t recovered first.

Natural Gas Nov Contract (NG, ETF: (UNG, UNL))
Greeting Thursday”s EIA report from two consecutive higher closes above resistance did help to avoid even a negative knee-jerk reaction down. But the recovery has yet to extend higher, and requires that pullbacks now hold 3.67 as support.